A growing manufacturer of high-end consumer products with production facilities in multiple states had outgrown the space in existing facilities. To meet projected sales forecasts the company planned to double capacity, which required over $110 million of investment in two facilities in separate states. In order to maximize the value of these investments the company turned to Baker Tilly Capital to assist in attaining credits and incentives as additions to their traditional capital sources.
After reviewing the company’s planned capital structure, Baker Tilly Capital’s project finance team determined tax credits and incentives would be available to complement their financing needs for the building expansions. Levering the experience and in-depth knowledge of credits and incentives our team lead the process, including outreach to state and local government agencies with available credits and incentives, completing incentive applications, negotiating incentives, structuring a development agreement, and reviewing and analyzing offers.
Baker Tilly Capital successfully negotiated tax credits and grants from state and local governments benefitting from each expansion project. Through these efforts, the manufacturer received more than $9 million in incentive funding which completed the financing of its expansions.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.